XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Reporting | 9 Months Ended
--- | ---
Oct. 28, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company’s reportable segments are based on the financial information the chief operating decision maker (“CODM”) uses to allocate resources and assess performance of its business. During the second quarter of Fiscal 2023, to leverage the knowledge and experience of our regional teams to better drive brand growth, the Company reorganized its structure and now manages its business on a geographic basis, consisting of three reportable segments: Americas; Europe, the Middle East and Africa (EMEA); and Asia-Pacific (APAC). Corporate functions and other income and expenses are evaluated on a consolidated basis and are not allocated to the Company’s segments, and therefore are included as a reconciling item between segment and total operating income (loss). The Americas reportable segment includes the results of operations in North America and South America. The EMEA reportable segment includes the results of operations in Europe, the Middle East and Africa. The APAC reportable segment includes the results of operations in the Asia-Pacific region, including Asia and Oceania. Intersegment sales and transfers are recorded at cost and are treated as a transfer of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. All prior periods presented are recast to conform to the new segment presentation. The group comprised of the Company’s (i) Chief Executive Officer and (ii) Chief Financial Officer and Chief Operating Officer functions as the Company’s CODM. The Company’s CODM manages business operations and evaluates the performance of each segment based on the net sales and operating income (loss) of the segment. Net sales by segment are presented by attributing revenues on the basis of the segment that fulfills the order. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributed to the segment. Corporate/other expenses include expenses incurred that are not directly attributed to a reportable segment and primarily relate to corporate or global functions such as design, sourcing, brand management, corporate strategy, information technology, finance, treasury, legal, human resources, and other corporate support services, as well as certain globally managed components of the planning, merchandising, and marketing functions. The Company reports inventories by segment as that information is used by the CODM in determining allocation of resources to the segments. The Company does not report its other assets by segment as that information is not used by the CODM in assessing segment performance or allocating resources. The following tables provide the Company’s segment information as of October 28, 2023 and January 28, 2023, and for the thirteen and thirty-nine weeks ended October 28, 2023 and October 29, 2022:
| Net Sales
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | October 28, 2023 |  | October 29, 2022 |  | October 28, 2023 |  | October 29, 2022
Americas | $ | 867,566 |  |  | $ | 713,860 |  |  | $ | 2,264,415 |  |  | $ | 1,949,066 |
EMEA | 157,976 |  |  | 138,840 |  |  | 468,045 |  |  | 465,394 |
APAC | 30,889 |  |  | 27,384 |  |  | 95,310 |  |  | 83,477 |
Segment total | $ | 1,056,431 |  |  | $ | 880,084 |  |  | $ | 2,827,770 |  |  | $ | 2,497,937 |
| Operating Income (loss)
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | October 28, 2023 |  | October 29, 2022 |  | October 28, 2023 |  | October 29, 2022
Americas | $ | 257,440 |  |  | $ | 125,726 |  |  | $ | 590,948 |  |  | $ | 297,826 |
EMEA | 20,795 |  |  | 3,455 |  |  | 49,170 |  |  | 30,107 |
APAC | (3,261) |  |  | (5,643) |  |  | (6,272) |  |  | (21,128) |
Segment total | $ | 274,974 |  |  | $ | 123,538 |  |  | $ | 633,846 |  |  | $ | 306,805 |
Operating (loss) income not attributed to Segments: |  |  |  |  |  |  |
Stores and distribution expense | (3,202) |  |  | (1,254) |  |  | (8,205) |  |  | (5,972) |
Marketing, general and administrative expense | (132,496) |  |  | (105,747) |  |  | (368,099) |  |  | (299,108) |
Other operating (loss) income, net | (1,256) |  |  | 1,006 |  |  | 4,328 |  |  | 3,901 |
Total operating income | $ | 138,020 |  |  | $ | 17,543 |  |  | $ | 261,870 |  |  | $ | 5,626 |
| Assets |  |  |  |
(in thousands) | October 28, 2023 |  | January 28, 2023 |  |  |  |
Inventories |  |  |  |  |  |  |
Americas | $ | 481,288 |  |  | $ | 404,040 |  |  |  |  |
EMEA | 91,129 |  |  | 80,447 |  |  |  |  |
APAC | 22,650 |  |  | 21,134 |  |  |  |  |
Total inventories | $ | 595,067 |  |  | $ | 505,621 |  |  |  |  |
Assets not attributed to Segments | 2,302,579 |  |  | 2,207,479 |  |  |  |  |
Total assets | $ | 2,897,646 |  |  | $ | 2,713,100 |  |  |  |  |
Brand Information The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen and thirty-nine weeks ended October 28, 2023 and October 29, 2022:
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | October 28, 2023 |  | October 29, 2022 |  | October 28, 2023 |  | October 29, 2022
Abercrombie | $ | 547,728 |  |  | $ | 422,332 |  |  | $ | 1,446,483 |  |  | $ | 1,174,445 |
Hollister | 508,703 |  |  | 457,752 |  |  | 1,381,287 |  |  | 1,323,492 |
Total | $ | 1,056,431 |  |  | $ | 880,084 |  |  | $ | 2,827,770 |  |  | $ | 2,497,937 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration